CEP Breaks Out - Datenvisualisierung Tools und Dashboard-Software-Systeme für Manager

CEP BREAKS OUT Complex event processing divides the haves (firms that most efficiently reap the benefits of real-time data) and the have-nots (firms that can’t). The CEP Line in the Sand Data determines which side you’re on. A line in the sand divides the market between the haves (firms trading with confidence based on an integrated and deep real-time understanding of their combined internal information and the market) and the have-nots (those whose systems are still largely based on a fragmented and inefficient understanding of internal information and market data). It’s all about data and how you use it. The volume of data is increasing, and pressures are mounting on systems across the front, middle and back office. Firms realize they need to use technology that aggregates and analyzes data from scattered systems. The results inform a variety of users about trends and patterns—in as near to real time as possible. The implications are huge. Many facets of this Stuart Grant fiercely competitive global marketplace demand Financial Services Business real-time, or intraday agility. A delayed response to Development Manager, changing conditions or the inability to prevent an Sybase, an SAP Company CAPITAL MARKETS GUIDE I 37 unwanted action can be costly. Hence the pressing capacity to support development need for a low-latency, event-driven solution that team output. These firms seek can distill insight from floods of information. an easily supported, standards- based solution that enables rapid Increasing Obsolescence of deployment of services to meet In-House Development new business requirements. Historically this need would have been met by bespoke in-house development. In certain cases That solution is called complex that method is still relevant. event processing (CEP). CEP enables firms to quickly deploy new services based on aggregated streams of multifrequency data— without needing extensive development resources. However, two trends emerged as firms posted What CEP positive fundamentals in 2009 by removing cost, Brings to the Table largely from their operational environment. CEP enables firms to quickly First, increased revenue drives improved financial deploy new services based on results, not heavy cost cutting, as proven in 2010 aggregated streams of multi- and more so in 2011. frequency data—without needing extensive development Second, many firms now lack support for resources. The technology in-house developments because of a loss of ensures confidence in the operational capacity, such as a diminished final results, because business 38 I SYBASE 2011 CEP BREAKS OUT Firms using CEP can profitably engage in improving trading analysis, execution and monitoring. teams can see their models in the development phase and fix errors otherwise lost in translation. The CEP engine can react to events in real time, monitoring and notifying multiple functions from one place. This capability enables the start of an integrated and cyclical process whereby the middle and back office can Firms not using CEP will drift to the sidelines. react quickly to front-office activities—and can even become Middle-office firms can integrate disparate a service to the front office. data from multiple sources into one place. This capability pulls together data and analysis from Front-office technology a variety of current systems to give chief risk employs low latency, data officers (CROs) a holistic view across all risk integration, event processing disciplines, lines of business and geographies. and analysis to help enterprises make sense of the data streaming Much of the data required for some practices through their networks—or remains the same, even if the analysis is different. hidden in a previously inaccessible So other CEP advantages include enabling environment. Firms using CEP real-time or on-demand limits assessment, can profitably engage in liquidity management and capital allocation. improving trading analysis, execution and monitoring. The line in the sand becomes a rift. CAPITAL MARKETS GUIDE I 39 Firms standing on the CEP side will have the capabilities, connectivity and visibility to truly maximize their trading techniques and risk analysis. the widest possible variety of event processing requirements. These might include consolidating data from multiple heterogeneous systems into a single aggregate Growing Popularity stream; operating large data CEP’s capabilities have moved it beyond the sets spanning large time realm of niche technology. Now, more and more windows; and collecting raw securities and investments firms implement it in data for historical analysis. their front- and mid-office applications. CEP automates cash and Mitsubishi UFJ Securities International liquidity management processes incorporated CEP into its state-of-the-art trading so Barclays Capital, for example, infrastructure. The technology helps the London- can better monitor and forecast based firm’s traders get updates immediately, intraday positions across multiple rather than in minutes. CEP also enabled payment and settlement Mitsubishi to double the number of currencies systems using real-time data. it tracks, giving traders a richer view into And the Turkish Derivatives market opportunities without needing to Exchange uses CEP to quickly add more expensive storage. detect abusive trading patterns. The technology is also versatile, which helps to CEP’s mission is to make solve many problems. Since different applications all types of available data— have diverse needs, some CEP platforms address across each layer of a firm’s IT 40 I SYBASE 2011 CEP BREAKS OUT The rift between the haves and have- nots continues to expand needlessly, given how easy and economical CEP implementation can be. system—comprehensible in relation to business goals and actionable in real time. CEP is neither complicated nor expensive to implement, although its name may suggest otherwise. Firms standing on the CEP side will have the Off-the-shelf technology easily capabilities, connectivity and visibility to truly plugs into other applications. maximize their trading techniques and risk analysis. They will reap the benefits of the This simplicity makes it relatively 21st-century market. easy to link many data sources inside a firm and query data in And then you’ve got the rest, inefficiently trading real time. Mitsubishi, for instance, with fragmented data. rolled out its CEP-based infrastruc- ture in a matter of a few weeks. Stuart Grant has more than 10 years’ experience Still, the rift between the within the market data industry, working in haves and have-nots continues product management and business development to expand needlessly, given to provide market data and data feed solutions how easy and economical CEP to buy-side and sell-side organizations to support implementation can be.